Brokerages predict that Terex Co. (NYSE:TEX) will announce earnings per share of $0.74 for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Terex’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.92. Terex posted earnings of $0.50 per share in the same quarter last year, which indicates a positive year over year growth rate of 48%. The firm is expected to issue its next earnings report on Tuesday, October 30th.
On average, analysts expect that Terex will report full-year earnings of $2.90 per share for the current year, with EPS estimates ranging from $2.80 to $2.95. For the next year, analysts forecast that the company will post earnings of $3.78 per share, with EPS estimates ranging from $3.45 to $4.09. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Terex.
Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Terex had a net margin of 2.91% and a return on equity of 16.66%.
Several equities research analysts recently commented on TEX shares. OTR Global lowered shares of Terex to a “positive” rating in a research note on Tuesday, June 5th. ValuEngine lowered shares of Terex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Goldman Sachs Group lowered shares of Terex from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 13th. Zacks Investment Research lowered shares of Terex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Credit Suisse Group lifted their price target on shares of Terex from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, May 3rd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.00.
Shares of Terex stock traded up $0.62 during trading on Friday, hitting $38.35. 812,852 shares of the stock were exchanged, compared to its average volume of 1,532,988. The stock has a market cap of $2.79 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.62. Terex has a 12-month low of $35.30 and a 12-month high of $50.17. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Thursday, August 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. Terex’s dividend payout ratio is presently 29.63%.
Terex declared that its board has approved a share repurchase plan on Thursday, July 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other Terex news, VP Eric I. Cohen sold 12,502 shares of Terex stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $40.40, for a total value of $505,080.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brian J. Henry sold 5,000 shares of Terex stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $42.98, for a total transaction of $214,900.00. Following the completion of the transaction, the senior vice president now owns 330,157 shares in the company, valued at $14,190,147.86. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 1,079 shares of company stock worth $45,136 and sold 38,716 shares worth $1,593,207. Insiders own 3.50% of the company’s stock.
Several large investors have recently modified their holdings of TEX. Raymond James & Associates boosted its holdings in shares of Terex by 46.9% in the fourth quarter. Raymond James & Associates now owns 8,766 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 2,799 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of Terex in the fourth quarter valued at about $211,000. Rhumbline Advisers boosted its holdings in shares of Terex by 4.9% in the first quarter. Rhumbline Advisers now owns 287,874 shares of the industrial products company’s stock valued at $10,769,000 after acquiring an additional 13,460 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Terex in the first quarter valued at about $184,000. Finally, Mackay Shields LLC purchased a new stake in shares of Terex in the first quarter valued at about $3,067,000. 92.24% of the stock is currently owned by institutional investors and hedge funds.
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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